Peonies are graceful and beautiful plants to have in a garden. They come in tree-peony varieties and herbaceous varieties. It can be a lot of fun mixing up the varieties in the same garden. Tree peonies are sort of the "upper class" of the peony world. The flower you see comes from a young peony plant being grafted on to an older mature plant. They take several years to "take" and they are priced accordingly. Tree peonies are a little touchier about their space and can get quite large. The vary in price from around $30 up to thousands, depending on the variety, where it was cultivated. The really good ones come from Japan and are normally "collector" types, very rare varieties.